Fund Administration Compliance Manager

U.S. Bank; Milwaukee (WI); On-site; USD 127,000 - 149,000; Full time

Benefits offered by this job

Healthcare (medical, dental, vision)

401(k) and employer-funded retirement

Paid vacation

Up to 11 paid holidays

Parental leave

Adoption assistance

Disability insurance

Job summary

U.S. Bank seeks a Fund Administration Compliance & Regulatory Manager to lead a team ensuring registered investment companies meet regulatory requirements, prospectus limits, internal policies, and client guidelines.

You will oversee monitoring, reporting, issue resolution, and audit support as the subject matter expert for ETF, mutual fund, and other funds. The ideal candidate has deep knowledge of the Investment Company Act of 1940, SEC reporting, fund governance, and risk management, plus

Qualifications

• Bachelor's degree in accounting, finance or related field.
• CPA certified or candidate.
• 10+ years of experience in Mutual Fund Administration or related field.
• Two or more years of supervisory/managerial experience.

Responsibilities

• Lead and manage a team responsible for monitoring compliance with regulatory requirements, prospectus restrictions, investment policies, and internal controls, including fund compliance programs, regulatory filings, and board reporting.
• Serve as a primary point of contact for compliance-related client inquiries and escalations.
• Interpret regulatory requirements and provide guidance regarding SEC rules, Investment Company Act provisions, Subchapter M requirements, and other applicable regulations.
• Coordinate with Legal, Compliance, Fund Accounting, Financial Reporting, and external service providers to ensure regulatory obligations are met.
• Maintain documentation supporting compliance testing methodologies, procedures, and controls.
• Lead, mentor, and develop compliance professionals through coaching, performance management, and technical training.
• Evaluate existing procedures and implement process improvements to enhance efficiency and compliance
• Establish team priorities, allocate resources, and monitor workload distribution to ensure service-level commitments are achieved.
• Promote a culture of accountability, continuous improvement, and regulatory excellence.
• Provide technical guidance regarding new regulations, rule changes, and emerging compliance risks.
• Participate in department level initiatives, committees and working groups
• Execute strategies and drive change for the fund administration department and the entire business line
• Support business growth initiatives, including participation in new client or product activities

Skills

Leadership

Regulatory knowledge

Project management

Communication skills

Microsoft Office

Education

Bachelor's degree in accounting, finance or related field

Job description

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

As a Fund Administration Compliance & Regulatory Manager, you will lead a team responsible for ensuring registered investment companies comply with regulatory requirements, prospectus limitations, internal policies, and client-specific guidelines. You will oversee daily compliance monitoring activities, regulatory reporting, issue resolution, and audit support while serving as a subject matter expert on registered fund compliance matters for exchange-traded fund ("ETF"), mutual fund, closed end fund and/or business development company clients. This role requires a strong understanding of the Investment Company Act of 1940, SEC reporting requirements, fund governance, and regulatory risk management. The ideal candidate will demonstrate leadership, technical expertise, and a commitment to maintaining a strong compliance culture while delivering exceptional client service. In Fund Administration, we value clients first and employees always. We take pride in doing the right thing each and every day in a fun, challenging and fulfilling environment. Our leadership and team mentors are committed to you, and we will provide you with an array of resources and teaching methodologies to help you succeed and grow as a financial professional and future leader.

Job Duties

• Lead and manage a team responsible for monitoring compliance with regulatory requirements, prospectus restrictions, investment policies, and internal controls, including fund compliance programs, regulatory filings, and board reporting
• Serve as a primary point of contact for compliance-related client inquiries and escalations.
• Interpret regulatory requirements and provide guidance regarding SEC rules, Investment Company Act provisions, Subchapter M requirements, and other applicable regulations.
• Coordinate with Legal, Compliance, Fund Accounting, Financial Reporting, and external service providers to ensure regulatory obligations are met.
• Maintain documentation supporting compliance testing methodologies, procedures, and controls.
• Lead, mentor, and develop compliance professionals through coaching, performance management, and technical training.
• Evaluate existing procedures and implement process improvements to enhance efficiency and compliance
• Establish team priorities, allocate resources, and monitor workload distribution to ensure service-level commitments are achieved.
• Promote a culture of accountability, continuous improvement, and regulatory excellence.
• Provide technical guidance regarding new regulations, rule changes, and emerging compliance risks.
• Participate in department level initiatives, committees and working groups
• Execute strategies and drive change for the fund administration department and the entire business line
• Support business growth initiatives, including participation in new client or product activities

Basic Qualifications

• Bachelor's degree in accounting, finance or related field
• CPA certified or candidate
• 10 or more years of experience in Mutual Fund Administration or related field, i.e., public accounting
• Two or more years of supervisory/managerial experience

Preferred Skills/Experience

• Demonstrated experience leading, supervising and developing professional staff
• Superior knowledge of legal, regulatory, and accounting principles affecting registered investment funds
• Advanced understanding of the Investment Company Act of 1940, Subchapter M of the Internal Revenue Code, and applicable state securities regulations
• Strong organizational skills with the ability to manage complex, long‑term projects
• Excellent written and verbal communication skills with significant client interaction
• Proficiency with Microsoft Office and standard PC applications
• Superior commitment to ethics, compliance, and internal control standards

This role requires working from a U.S. Bank location three (3) or more days per week.

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-term disability
• Pregnancy disability and parental leave
• 401(k) and employer-funded retirement plan
• Paid vacation (from two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

E-Verify U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $126,820.00 - $149,200.00 U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures. Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.